The average product of labor exceeds the marginal product of labor
A) when the average product of labor is falling.
B) when the average product of labor is rising.
C) when the marginal product of labor is at its maximum.
D) when the average product of labor is at its maximum.
A
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Which of the following is included in a nation's capital and financial account?
I. the purchase of foreign stocks and bonds II. the sale of foreign stocks and bonds III. importing a piece of capital equipment A) I only B) I and II C) III only D) I, II and III
Demand for cigarettes is
A. relatively elastic. B. relatively inelastic. C. increasing in the U.S. D. greater among wealthier people.
An investment grows from $100.00 to $150.00 or 50% over five years. What annual increase gives a 50% increase over five years?
a. 7.05% b. 3.10% c. 11.30% d. 8.45% e. none of the above
The table above shows the PPF of an island community. This community's opportunity cost of producing 1 pound of fish ______
A. is the increase in the quantity of berries gathered as the quantity of fish increases by 1 pound B. increases as the quantity of berries gathered increases C. is 10 pounds of berries if the quantity of fish increases from 2 to 3 pounds D. increases as the quantity of fish caught increases